hotel business partnerships

4 Hotel Business Partnerships to Unlock Group Revenue

Partnerships are Greater than the Sum of their Parts.

 

There are only so many ways you can stretch and adapt your space to accommodate new hotel business partnerships. After a certain point, you won’t find anymore change beneath the couch cushions. You also might not have the space to expand in the first place. Or, what if your hotel isn’t near the most popular hangouts in your city? How can you can still capture a meeting planner’s attention when they want to give their events that “downtown” feel?

 

That’s where you can reach out to partners in your destination to grow group-sales opportunities at your hotel and drive new business to your partners. After all, all the best partnerships are worth more than the sum of their parts. Here’s a look at a few ways to go beyond the walls of your venue.

 

1.) Restaurants and Bars

 

hotel business partnershipsToday’s leisure and business travelers are craving one thing regardless of the destination: authenticity. The hotel experience in a sleeping room or event space doesn’t change depending on the destination. As a result: planners are starting their location search at local hotspots like restaurants and bars before traditional spaces.

 

That leaves hoteliers with two options:

1.) After planners book a restaurant event, let them decide if they want to book guest rooms at a local hotel, or test the waters with Airbnb.

2.) Proactively reach out to local restaurants and pubs and set up a preferred pricing referral agreement. That way you can satisfy clients that are looking for something different without risking any guest-rooms to Airbnb.

 


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2.) Co-Working Spaces

hotel business partnerships

 

Create similar hotel business partnerships with a co-working space, as you would with a restaurant. The difference here is that you won’t be able to accommodate the same F&B requests.

 

A preferred partnership with a flexible co-working space, gives you the same opportunity to accommodate low-value clients, without losing sleeping room revenue. Additionally, you can hold on to full-featured function spaces and focus prospecting on clients that close at a higher rate.

 

3.) Parks / Public Spaces

 

hotel business partnerships

 

Let’s be clear, we’re not suggesting that you claim 1,000 square feet at your local park in the name of your property. Public space is… public, you can’t sell it. But that doesn’t mean you can’t include the parks and open spaces that your city has to offer as part of a group package.

 

Find out what planners are trying to accomplish and pitch an event that makes use of your function space, nearby parks, and of course, your sleeping rooms.

 

 

4.) Other Hotels

 

hotel business partnerships

 

Guest room availability can affect the overall value of a group deal, or even determine if the contract closes at all. You may find yourself in a situation where you lose out on a group (with potential to repeat) because too many guest rooms are already occupied.

So how can you make more rooms available? Remember that revenue growth will increasingly come as a result of group revenue. That puts hotels that don’t have meeting space in a precarious position. Connect with hotels at your destination that don’t have event space of their own. They can make up for the overflow, and also don’t compete with your for meetings and events. By doing so you can continue to use guest rooms as the leverage you need to keep an event at your hotel.

 

Our industry has a flexible nature that is just waiting to be let loose. Hotel business partnerships are a great starting point. Make the most of your resources by taking some of the above hints!

 

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David Budimir
David is the Content Marketing Manager at Social Tables.